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EMV Technology: Deploying Soon in the U.S.

Merchants and payment card issuers in the United States are migrating to EMV, the technology for conducting payment transactions more securely and preventing fraud losses resulting from counterfeit cards. EMV operates through a microchip embedded in the payment card and new merchant terminals that can read the chip and process payments through it. Driving merchants’ and issuers’ adoption of EMV in the U.S. is the important change that will take place on October 1, 2015, when liability for any counterfeit fraud losses incurred in payments will shift to the party failing to support EMV chip card transactions. That will be the issuer if fraud occurs in a transaction using a payment card that doesn’t have an EMV chip in it, or it will the retailer if the customer presents a chip card but the retailer does not accept chip cards. This Mercator Advisory Group Research Brief explains actions that retailers and issuers can take to make the transition to payment transactions using EMV chip cards as smooth as possible for all concerned—most importantly the cardholder.

This Mercator Advisory Group Research Brief explains actions that retailers and issuers can take to make the transition to payment transactions using EMV chip cards as smooth as possible for all concerned—most importantly the cardholder.

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